Spain has long been a dream holiday home destination, a place for British retirees to live out their days in the sun.
Spain’s Prime Minister Pedro Sánchez announced a plan to impose a tax of up to 100% on the value of properties purchased by non-EU residents.
Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.
Spain’s prime minister is pushing for far-reaching action to ease the nation’s housing crunch, including a tax of up to 100% on property purchases by non-European Union buyers.
Spain’s government will seek to limit the number of houses sold to foreigners by significantly raising the taxes they pay.
According to the Spanish PM, non-EU residents bought a total of 27,000 properties in Spain in 2023, not to live in it but to make money from it
Public anger is growing as locals are being priced out of home ownership with rents being driven up by gentrification and landlords shifting to more lucrative, short-term tourist rentals, especially in urban and coastal areas.
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Pressure on Spain’s housing market has been exacerbated by overtourism and the proliferation of short-term holiday rentals. View on euronews
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A tax of up to 100 percent on Spanish property deals by non-EU nationals living outside the country is one of the leftist government's flagship proposals to tackle a housing crisis.